I keep hearing about this "Double-Dip Recession." Here are my thoughts on it. If there is actual growth going on in America right now, we will go back into another recession starting in January. I don't believe the "growth" we have seen over the last few months is so much true growth as much as the wealthy and corporations trying to spend money now before oppressive taxes return next year. Couple that with an economy that has lost millions of jobs over the past two years, a stock market that was cut by 40% (I'll admit that the stock market was probably a little overinflated before the crash) and runaway spending from an Administration and Congress that was so infuriated by the last Administration's spending spree.
The Democrats who control the White House and Congress are so worried about what George Bush did, that they are not leading. The reason why many moderates and independents voted for President Obama is that they saw someone whom they believed to be a leader. They were wrong. President Obama has failed to lead our nation in anything except apologizing for our former greatness.
If President Obama truly wants to help Americans, here is what he'll do. Extend the Bush tax cuts for ten more years. If he does this alone, it will bolster the economy because corporations and the wealthy will feel that they can safely invest their money without being raped by the IRS. This will lead to job growth on it's own. If he TRULY wants to bring us out of this recession (or depression) he will add more cuts in addition to those cuts and couple that with a real commitment to reducing Federal spending. Here's a tip; cutting Federal spending does not mean cutting the military, police or firefighters. It does mean not funding abortion in foreign countries and funding things like pickle research and other immoral and wasteful spending.
He also needs to secure the border. Mr. President, the overwhelming majority of Americans, and a significant number of Hispanics, like me, stand with Arizona in its attempt to enforce Federal Immigration Law. Arizona is trying to protect its citizens, and since you won't do your job, Jan Brewer has to do it for you.
I'll close with this. Support our troops. Not with words, but with action. End the insane rules of engagement. Allow our military to use its full might to quickly end the wars and bring our troops home victorious. Neither President Bush nor yourself have had the guts to fight the wars the way we should be fighting them. If you change that, you'll earn the respect of the troops and the American people.
There are many more things you SHOULD do, but if you did these, America would make a turn for the better and the people would love you. But you're too much of an ideologue for that aren't you? Please Mr. President, stop reacting and lead.
Showing posts with label Taxes. Show all posts
Showing posts with label Taxes. Show all posts
02 July 2010
19 September 2008
The Other "Fairness Doctrine"
Glenn Beck, in an interview with David Freddoso, author of "The Case Against Barack Obama" asked Freddosso about Obama's tax plans, which are constantly changing by the way. Here is a copy of the transcript of the interview.
GLENN: David, can we start with the economy with Barack Obama and the difference of what Barack Obama sees in the economy. How is he different than the politics of old as he calls them, the politics of failed policy?
FREDDOSO: Well, I would say and thanks for having me again, Glenn.
GLENN: Sure.
FREDDOSO: I would say that he, on economics he has rose from a typical populist anti free trade sort of position in a higher tax position that pretty much ignores the incentives involved in government tax policy. As you know, when you raise marginal tax rates, you are basically making it more difficult for small businesses. You are creating extra expenses for them and that means that wages tend to go up more slowly and perhaps even people get laid off if you have a major shift upward in the upper marginal rates. Because the people who hire other people are the ones making the large income. That is part of Obama's tax policy is to raise the top marginal rates.
GLENN: Okay, now wait a minute. Hang on just a second.
FREDDOSO: Yes.
GLENN: A lot of people don't understand, and I know you just explained. A lot of people don't understand that this is bad. Have you and I know this is past when your book came out but can you document here at all on how Barack Obama has changed his position?
FREDDOSO: Yes.
GLENN: on that top marginal rate.
FREDDOSO: Well, you know, he even he went on Stephanopoulos just a couple of weekends ago and when asked about if we go into a recession, would you raise taxes and his answer was, well, maybe not if we go into a recession. So he's already implying here that he understands raising taxes hurts people but he is willing to do it anyway as long as we're not in a recession already.
GLENN: And he's doing it for a reason of what he calls basic fairness.
FREDDOSO: Yes.
GLENN: Do you remember when he was go ahead.
FREDDOSO: Of course, you are referring to when he was asked by Charlie Gibson, I believe, about the capital gains tax, and he wants to raise the capital gains tax. He said he wants it to go up to maybe 28%. Right now it's 15%. When you raise the capital gains tax, historically revenues go down because people engage in fewer transactions when the marginal when the capital gains rate is high. So in fact, every time that rate has been cut, the government revenues have increased and so Charlie Gibson asked him, well, if raising this tax doesn't actually raise more money for the government, why are you going to do it. And Obama's answer was fairness. So now we have a government I mean, and this is you could say this is a great indicator of socialism. You have the government trying to make the economy more fair by hurting some people and not helping the others. It's a kind of laughable situation you could say.
END TRANSCRIPT
So essentially, Obama knows that raising taxes is bad for the economy. It doesn't bring more revenues, it doesn't create jobs. Raising taxes lowers revenues if anything. It also is a surefire way to lose jobs. If you raise taxes on small business, small business owners will lay people off, making more people dependent on the government, yet the government will have less money to take care of the additional people who need government assistance. So Obama wants to hurt the rich, (of which he is a member) without helping the poor all in the name of 'fairness'. I suppose it's fair if he screws everybody. (except the Marxists, I'm sure his plans include tax breaks for the Marxists) I thought Obama's supporters were the 'educated' class in America. I'm not sure what kind of education his supporters have, but it must not have included research.
GLENN: David, can we start with the economy with Barack Obama and the difference of what Barack Obama sees in the economy. How is he different than the politics of old as he calls them, the politics of failed policy?
FREDDOSO: Well, I would say and thanks for having me again, Glenn.
GLENN: Sure.
FREDDOSO: I would say that he, on economics he has rose from a typical populist anti free trade sort of position in a higher tax position that pretty much ignores the incentives involved in government tax policy. As you know, when you raise marginal tax rates, you are basically making it more difficult for small businesses. You are creating extra expenses for them and that means that wages tend to go up more slowly and perhaps even people get laid off if you have a major shift upward in the upper marginal rates. Because the people who hire other people are the ones making the large income. That is part of Obama's tax policy is to raise the top marginal rates.
GLENN: Okay, now wait a minute. Hang on just a second.
FREDDOSO: Yes.
GLENN: A lot of people don't understand, and I know you just explained. A lot of people don't understand that this is bad. Have you and I know this is past when your book came out but can you document here at all on how Barack Obama has changed his position?
FREDDOSO: Yes.
GLENN: on that top marginal rate.
FREDDOSO: Well, you know, he even he went on Stephanopoulos just a couple of weekends ago and when asked about if we go into a recession, would you raise taxes and his answer was, well, maybe not if we go into a recession. So he's already implying here that he understands raising taxes hurts people but he is willing to do it anyway as long as we're not in a recession already.
GLENN: And he's doing it for a reason of what he calls basic fairness.
FREDDOSO: Yes.
GLENN: Do you remember when he was go ahead.
FREDDOSO: Of course, you are referring to when he was asked by Charlie Gibson, I believe, about the capital gains tax, and he wants to raise the capital gains tax. He said he wants it to go up to maybe 28%. Right now it's 15%. When you raise the capital gains tax, historically revenues go down because people engage in fewer transactions when the marginal when the capital gains rate is high. So in fact, every time that rate has been cut, the government revenues have increased and so Charlie Gibson asked him, well, if raising this tax doesn't actually raise more money for the government, why are you going to do it. And Obama's answer was fairness. So now we have a government I mean, and this is you could say this is a great indicator of socialism. You have the government trying to make the economy more fair by hurting some people and not helping the others. It's a kind of laughable situation you could say.
END TRANSCRIPT
So essentially, Obama knows that raising taxes is bad for the economy. It doesn't bring more revenues, it doesn't create jobs. Raising taxes lowers revenues if anything. It also is a surefire way to lose jobs. If you raise taxes on small business, small business owners will lay people off, making more people dependent on the government, yet the government will have less money to take care of the additional people who need government assistance. So Obama wants to hurt the rich, (of which he is a member) without helping the poor all in the name of 'fairness'. I suppose it's fair if he screws everybody. (except the Marxists, I'm sure his plans include tax breaks for the Marxists) I thought Obama's supporters were the 'educated' class in America. I'm not sure what kind of education his supporters have, but it must not have included research.
02 April 2008
Is the fair tax right for America???
I recently signed the Fair Tax petition at http://www.fairtax.org/ and am not totally sold on it. However getting rid of the IRS and tax lawyers sounds pretty good to me. If you're reading this and you're one of the honest tax lawyers, or an employee of the IRS, I'm sorry but I think it would be wonderful if you found a new line of work. Again, I don't think the fair tax is perfect, but it is way better than our current system that only taxes honest people and not drug dealers, illegal immigrants and all others who 'work under the table'. It's time everyone, even the criminal elements, pay their fair share of taxes. Anyway, take a look at it, and if you want to, sign the petition by April 15th. They are going to bring the petition before congress and are looking for 100,000 signers. The last I checked they were at 70,000. Have a great day!
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